What are frequent fraud types

               What are the recurring fraud types?

  1. Social engineering

It is an interaction technique presenting oneself as someone aiming to access confidential or personal information. Such fraudsters might contact customers through SMS, email, social media messages or phone calls.

Three basic techniques for Social engineering.


  • Attacking in-group discussion
  • Mirroring body language 


  • Calling in panic, pretending like need support
  • Requesting donations from a known organization
  • Requesting call back to confirm account/transaction


  • Email/SMS phony contacts
  • Fake website/social media imitating a brand and requesting information
  1. Account take over

It is occurred when a fraudster hijacks an existing open account within the mobile operator. The main goals of the fraudsters are to gain access to the account and (by-) pass any validation steps.

              How is account take over fraud is committed?

  • Stolen SIM cards
  • When threat actors/fraudsters gain unauthorized access into the accounts of unsuspecting customers.

SIM Swap occurs when a fraudster manipulates the customer service process to take SIM Replacement, and enabling them to intercept SMS on a device that they own.

Why is this type of fraud is committed?

The fraudsters often commit this type of fraud to take advantage of using two-factor authentication to perform banking fraud, access mobile money accounts, and gain control of other third-party OTT accounts.

  1. Wangiri fraud

It is the fraud that involves a computer dialing a large number of mobile phone numbers at random. 

              How does fraudsters attack?

  • Simple phone call fraud that the scammer/fraudster leaves a swift missed call/message notification on the targeted person’s phone and terminate the call immediately before the call is answered intending to incur high charges when the user returns the call out of curiosity.
  1. Mobile Money (telebirr) fraud

A recent type of fraud came into being following the advent of telebirr digital payment platform and it solely targets telebirr App account balance.

How do fraudsters attack?

  • Fraudster call/send SMS to customer and abuse with wrong information
  • Pretending as known organizations
  • Ask for one-time passcode
  • Promise to trick customers into sending money
  1. Payment Fraud

It is the act of completing a transaction with a stolen credit card or unauthorized payment information.

When does payment fraud occur? 

Someone steals another person’s payment information (e.g. telebirr or bank accounts) and uses it to make unauthorized transactions or purchases.

How do fraudsters attack?

  • Creating fake customer records and telebirr or bank accounts
  • creating false payment and financial information
  • processing false privileges